A clothing store buys shorts for $24 less 40% for buying over 50 pairs, and less a further 16 2⁄3% for buying last season’s style. The shorts are marked up to cover overhead expenses of 25% of cost and a profit of 331⁄3% of cost.
(a) What is the regular selling price of the shorts?
(b) What is the maximum amount of markdown to break even?
(c) What is the rate of markdown if the shorts are sold at the break-even price?